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Meta: Vijaya Bank Education Loan - India Educational Loans. Banks offering student loans in India- Loan
Documentation, rate of interest and repayment.
Keywords: Vijaya Bank Education Loan, Student Loan, Education Loan, Educational Loan, Loan, Bank
Student should be an Indian National and should have secured admission to the relevant Professional/
Technical courses in India or Abroad through Entrance Test/ Merit Based Selection process.
Purpose
Loans for Indian nationals- meritorious students for pursuing higher education in India or
abroad.
Eligible courses
IITs, IIMs, IISc Bangalore, ISB Hyderabad, BITS, AIIMS, NITs, IIFT Delhi, IMI Delhi, ISM Dhanbad, IRM
Anand, SIBM Pune, XLRI Jamshedpur.
o Degree/diploma courses like Aeronautical, Pilot Training, Shipping etc. provided these are recognized
by competent regulatory bodies in India or abroad for the purpose of employment in India/abroad.
o Examination/Library/Laboratory fee
o Purchase of books/equipments/instruments/uniforms***
o Purchase of computer at reasonable cost, if required for completion of the course ***
o Any other expense required to complete the course - like study tours, project-work, thesis, etc.***
o While computing loan required, scholarships, fee waiver etc., if any, available to the student
borrower may be taken into account
o If the scholarship component is included in the loan assessment, it may be ensured that the
scholarship amount gets credited to the loan account when received from the Government.
Repayment
Repayment will commence one year after completion of course or six months after securing a job,
whichever is earier
Up to Rs
No security. Parents to be Joint borrower(s).
10.00 Lakh
Parent(s) to be joint borrower(s). Tangible collateral security in the form of land and
Above
building, life policy, gold jewellery, bank deposit etc., along with the assignment of
Rs.10.00
future income of the student for payment of instalments.
Lakh
Security norms for students admitted to domestic institutions and for studies abroad:
Up to Rs
7.50 Lakh No security.Parent(s) to be joint borrower(s).
All the eligible educational loans should invariably covered under Credit Guarantee
Scheme.